Tax Breaks Coming to the Alternative Energy Industry

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Greener energy is coming our way.

The Senate’s Financial Committee has approved a $31 million package of incentives and tax credits for alternative energy. According to Reuters this stimulus package goes beyond the one approved by the House last week, by allowing alternative energy companies to carry their 2008-2009 credits for five years.

Among other incentives for the alternative energy industry, these packages would also give tax credits to homeowners who make their homes more energy efficient and invest in alternative energy sources, such as wind turbines and solar panels, for their homes.

Congress expects to have a bill ready for President Obama to sign on February 16.

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